v3.26.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities:    
Net Income (Loss) $ 27,009 $ 23,219
Adjustments to reconcile net income to net cash from operating activities:    
Provision for credit losses 1,197 484
Depreciation and amortization 2,390 2,457
Net accretion of securities (1,005) (1,345)
Net (gain) loss on sales of premises and equipment (195) 35
Gain on sale assets held for sale (131) 0
Net loss (gain) on sales of other real estate owned 29 (3)
Gain on loans held for sale (1,294) (404)
Write-downs of other real estate owned 70 1,030
Deferred income tax expense (benefit) (519) 138
Federal Home Loan Bank stock dividends (99) (222)
Stock based compensation expense 1,346 1,349
Origination of loans held for sale (50,730) (46,273)
Proceeds from loans held for sale 45,562 43,192
Earnings on bank-owned life insurance (1,279) (986)
Amortization of equity method investments 2,309 816
Repayment of operating lease liabilities (1,023) (0)
Gain on sale of branches (3,582) (5,418)
Net change in:    
Accrued interest receivable and other assets 1,764 (2,075)
Accrued interest payable and other liabilities (2,734) (3,577)
Net cash provided by operating activities 19,085 12,417
Cash flows from investing activities:    
Purchases of securities available for sale (128,132) (204,249)
Maturities and calls of securities available for sale 24,086 263,978
Maturities, prepayments and calls of securities held to maturity 670 0
Net (increase) decrease in loans (21,026) 37,631
Purchases of premises and equipment (5,067) (5,229)
Proceeds from sales of premises and equipment 103 0
Proceeds from sales of other real estate owned 1,314 323
Proceeds from sales of assets held for sale 600 0
Investment in unconsolidated entities (1,112) (201)
Proceeds from bank-owned life insurance 0 333
Redemptions of Federal Home Loan Bank stock 2,028 0
Cash paid in sale of branches (31,049) (88,567)
Net cash (used in) provided by investing activities (157,585) 4,019
Net increase (decrease) in:    
Noninterest-bearing deposits 48,567 105,631
Money market, negotiable order of withdrawal, and savings deposits 264,325 136,744
Certificates of deposit (41,423) (63,225)
Proceeds from Federal Home Loan Bank advances 0 984
Payments on Federal Home Loan Bank advances (30,004) (988)
Payments on other borrowings (1,000) 0
Issuance of common stock 28 0
Cash dividends paid on common stock (6,191) (5,847)
Cash dividends paid on preferred stock (781) (1,250)
Net cash provided by financing activities 233,521 172,049
Net change in cash and cash equivalents 95,021 188,485
Cash and cash equivalents at beginning of period 348,249 409,639
Cash and cash equivalents at end of period 443,270 598,124
Supplemental cash flow information:    
Interest paid 36,868 44,130
Federal and state income tax payments 2,500 0
Acquisition of real estate in non-cash foreclosures 322 2,211
Transfers from loans held for sale to loans 3,922 0
Assets transferred to buyer in branch sale 12,782 2,135
Lease liabilities arising from obtaining right-of-use assets $ 784 $ 1,559